Financial Crises, Liquidity, and the International Monetary System

The book "In the Eye of the Storm" by Jean Tirole is a must-read for anyone interested in understanding the complexities of capital account liberalization and its potential consequences.

With a unique blend of economic theory and practical policy recommendations, this book provides a comprehensive analysis of the recent banking and currency crises and offers innovative solutions to prevent future crises.

Tirole's dual- and common-agency perspective sheds light on the often-overlooked tensions between debtor countries and their creditors, and his adaptation of corporate governance principles to country borrowing provides a fresh perspective on how to reformulate the mission of institutions such as the IMF.

This book is an indispensable resource for researchers, policymakers, and students at all levels, providing rich insights that will help them navigate the complex world of international finance with confidence.